GOLD Analysis – Gold Price Attempts To Break $2,030!

<p>Gold has outperformed today's performance (Tuesday) compared to the passive movement displayed at the opening of the early week yesterday.</p><p><br /></p><p>It was somewhat disappointing for investors when the price that leveled below the $2,030 zone yesterday failed to continue the upward trend at the end of last week.</p><p><br /></p><p>However, today is better as the price tries to make a rally again and try to break through the $2,030 zone.</p><p><br /></p><p>Price movements can be examined on the XAU/USD chart which measures the value of gold against the US dollar.</p><p><br /></p><p>A bullish signal is identified when the price increase displayed today begins to cross the Moving Average 50 (MA50) barrier line on the 1-hour time frame of the chart.</p><p><br /></p><p>After showing a surge, the price was seen hovering around the 2030.00 zone in the European session, investors are ready to see what will happen in the next session.</p><p><br /></p><p>If the momentum is successfully maintained, the increase will continue again from the 2030.00 zone and towards the concentration level at 2050.00.</p><p><br /></p><p><br /></p><p>Next, the target will shift to higher levels around 2070.00 if stronger price gains continue.</p><p><br /></p><p>However, if the situation is the other way around, the price can plunge from the 2030.00 zone to lower levels again.</p><p><br /></p><p>The closest target is towards the 2000.00 zone which will invite an attractive price reaction around that area.</p><p><br /></p><p>If the breakout price is lower than that, the continued bearish movement is expected to reach the 1970.00 level.</p>